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Latvenergo recognized as Latvia’s most valuable company for tenth time

Latvenergo has been recognized as Latvia’s most valuable company in 2017. Its value grew 34% in comparison with 2016, according to the TOP 101 list of Latvia’s most valuable companies compiled by Prudentia and Nasdaq Riga.

«We had previously enhanced our positions in traditional business segments in Baltic States. Now we’re looking towards diversification of products, innovations, digitization and new technologies. This is our chosen road for future development and accomplishments,» comments Latvenergo board member Āris Žīgurs.

By demonstrating major value increase, Latvenergo became ahead of the list’s second most valuable company in Latvia – Latvian State Forests. The latter dropped to 2nd place in the Top 101 list for the first time in history with a total estimated value of EUR 893.1 million.

3rd place on the list is occupied by a newcomer – Mikrotīkls. Its total value grew 65% since 2016 and was EUR 689.3 million. Mikrotīkls can be called the most rapidly growing company of recent years in Latvia because it has managed to climb from 51st to 3rd place on the list in ten years.

«We’ve been making TOP 101 for 12 year, and we are happy to see developments in Latvia’s economy that have a positive effect on the total value of companies detailed on the list. The total value has grown from EUR 15.7 billion to EUR 17.6 billion or 12% in total. It is especially worth mentioning the value growth of industrial products, which was 34%. Latvenergo remains in the lead largely thanks to its increased value. At the same time, it is also the third most valuable company in Baltic States,» says Prudentia chairman Kārlis Krastiņš.


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